Gambling Bottom Out

[Anonymous]

By the way I have an appointment with a bank advisor volunteer who helps people get back on track. A family friend and I also have an appointment with my BK attorney who did my Chapter 7 in 2010.

I also have been gambling free and getting professional help. But I cannot sleep at night thinking that almost 6 years of hard work, no debt and almost perfect credit got me to this point now where everything is maxed out, I'm paying insane fees and interest in 45k and I'm just screwed.

[Pway]

---

@Anonymous wrote:
By the way I have an appointment with a bank advisor volunteer who helps people get back on track. A family friend and I also have an appointment with my BK attorney who did my Chapter 7 in 2010.

I also have been gambling free and getting professional help. But I cannot sleep at night thinking that almost 6 years of hard work, no debt and almost perfect credit got me to this point now where everything is maxed out, I'm paying insane fees and interest in 45k and I'm just screwed.

---

You are moving in the right direction.  You have seeked out to get help, personally and professionaly. Not too many people will talk about their gambling addiction and admit that it is time for them to get help.  Each and every day we live and we learn.  

[Anonymous]

Thank you. Very grateful for all the information I'm getting.

Anyone has experiences with installment loans? What about credit card companies? Should I consider settling? Should I try to keep up with payments and selling off anything I own? Just curious if anyone could give more advice. My next paycheck isn't coming for 2 weeks ($1350). $400 is due for payday loan. About 500 to credit cards and other loans. My bank is overdrawn about $1000. My rent of 550 is due. Not sure what to do at all

[NYFan63]

---

@Anonymous wrote:
Thank you. Very grateful for all the information I'm getting.

Anyone has experiences with installment loans? What about credit card companies? Should I consider settling? Should I try to keep up with payments and selling off anything I own? Just curious if anyone could give more advice. My next paycheck isn't coming for 2 weeks ($1350). $400 is due for payday loan. About 500 to credit cards and other loans. My bank is overdrawn about $1000. My rent of 550 is due. Not sure what to do at all

---

I think some of the advice above is beneficial.  You HAVE to pay your rent so you have a roof over your head. Get the Payday loan paid off and maybe defer the CC payments until that is paid off.  That will be rewarding in itself, then you can focus on the CC payments.  Maybe you can call your CC companies and explain you are in a bind and need time to take care of a "personal matter".  It cant hurt.  I filed BK7 five years ago and as bad as it felt having filed, I always said this is fixable, it will jsut take time.  I have a roof over my head, I am in good health and I have a good paying job. AND learn from your mistakes.  Keep in mind, having money to use to pay off debt is better than losing it at the casinos.

Best of luck to you!  Remain positive.

[Anonymous]

I'm wondering what the spread of OPs debt is.

Say a big chunk is on one card. It might be worth to hold off on paying that card while digging out of the payday loan and keeping everything else current. Then go back and deal with it and hopefully only have one account that was late for a couple of months.

[Anonymous]

To make all my matters worse. I have lost my job.

I am almost 30 days behind on all my accounts. Including rent. Nobody I can fall back on, wondering what is my best way to take a fall here. Will I never be able to get credit again considering I was already in Chapter 7.

Please help

[barbaralee]

What was the reason for losing your job? Were you fired due to circumstances beyond your control? If that is the case I would beat feet down to the Dept. of Job and Family Services first thing Monday morning and file for unemployment. If you have not already I would also call every one of your creditors including your landlords and let them know of your situation and see if payment arrangments can be made. It's always been my opinion that if you are tight on funds living trumps credit card payments, so any disposable income should go to making sure that your rent is paid you keep the roof over your head. 

Whether or not you will be able to get credit is a non-issue right now for a few reasons: One is that you have bigger, more important things to stress about, and no need to borrow trouble with whether or not you will be able to get credit in the future. Two, is that more than likely you will eventually be able to recover from this. It may take some time, but that is the case for anyone who is having to rebuild. 

Good luck! I am sure others will come along with better advice on what to do. 

[Anonymous]

I am pretty sure because they see I am going through a very hard times and they have warned me that the company shouldn't have to participate in any wage assignment.

I am broken now. I have about 12 maxed out credit cards, personal loans, overdrawn bank accounts, automatic loan payments that are being retried every 3 days.

[Anonymous]

Hi Everyone,

I would like to ask you a few questions that are very important to me right now, just so I can expect what the future might bring.

1. I have two accounts with Chase, one is about to close due to overdraft, does anyone know if one account closes, so will the other as they no longer will want my business?

2. Since I was in discharge BK Chapter 7 in 2010 (Feb), my credit will start taking first few derragatory marks, after I rebound, how hard will it be for me to get credit? Will it take another 7 years for a decent score due to late payments and couple of collections?

3. As my personal credit will soon tank and I do own a small business (S Corp). Will I be able to build my small business credit and rely on that vs my personal or will it be forever tied to my bad personal credit.

4. I found this company: cambridge-credit that has outstanding BBB reviews and helps with Debt consolidation/counseling. Can they help me in any way or is a scam?

Please advise! Thank you!

[Kb109]

So sorry about your financial troubles. If I were you, I would definitely file chapter 13. And how in the heck is a 400% payday loan legal? OMG...